abrdn plc Cuts Stake in Terreno Realty Co. (NYSE:TRNO)

abrdn plc reduced its stake in Terreno Realty Co. (NYSE:TRNO) by 6.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 378,130 shares of the real estate investment trust’s stock after selling 24,367 shares during the quarter. abrdn plc owned 0.39% of Terreno Realty worth $25,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRNO. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Terreno Realty by 6.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 105,463 shares of the real estate investment trust’s stock worth $7,003,000 after buying an additional 6,815 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Terreno Realty by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 39,904 shares of the real estate investment trust’s stock worth $2,648,000 after buying an additional 937 shares during the last quarter. Norden Group LLC raised its stake in Terreno Realty by 1,032.3% in the 1st quarter. Norden Group LLC now owns 57,904 shares of the real estate investment trust’s stock valued at $3,845,000 after acquiring an additional 52,790 shares during the period. Diversify Advisory Services LLC bought a new stake in Terreno Realty in the 1st quarter valued at about $280,000. Finally, BNP Paribas Financial Markets raised its stake in Terreno Realty by 1.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,062 shares of the real estate investment trust’s stock valued at $2,793,000 after acquiring an additional 780 shares during the period.

Terreno Realty Trading Down 2.3 %

Shares of TRNO opened at $59.95 on Friday. The firm’s 50 day simple moving average is $66.38 and its 200 day simple moving average is $62.51. The company has a market capitalization of $5.80 billion, a P/E ratio of 31.22, a P/E/G ratio of 2.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. Terreno Realty Co. has a 1-year low of $52.42 and a 1-year high of $71.63.

Terreno Realty (NYSE:TRNO) last announced its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17). The company had revenue of $94.25 million during the quarter, compared to analysts’ expectations of $89.07 million. Terreno Realty had a net margin of 45.69% and a return on equity of 5.08%. Sell-side analysts forecast that Terreno Realty Co. will post 2.41 earnings per share for the current fiscal year.

Terreno Realty Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.49 dividend. This is an increase from Terreno Realty’s previous quarterly dividend of $0.45. This represents a $1.96 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, September 30th. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

Insider Activity at Terreno Realty

In related news, President Michael A. Coke sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total value of $513,975.00. Following the sale, the president now directly owns 402,164 shares of the company’s stock, valued at $27,560,298.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Terreno Realty news, EVP John Tull Meyer sold 6,145 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.64, for a total transaction of $421,792.80. Following the transaction, the executive vice president now directly owns 110,988 shares in the company, valued at $7,618,216.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael A. Coke sold 7,500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $68.53, for a total transaction of $513,975.00. Following the transaction, the president now owns 402,164 shares in the company, valued at $27,560,298.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,643 shares of company stock valued at $1,277,581 over the last three months. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JMP Securities boosted their price objective on Terreno Realty from $65.00 to $72.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 13th. Barclays lowered their price objective on Terreno Realty from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday. Mizuho restated an “underperform” rating and issued a $62.00 price objective on shares of Terreno Realty in a research note on Thursday, September 5th. Wells Fargo & Company cut Terreno Realty from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $71.00 to $75.00 in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their price target on Terreno Realty from $60.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $69.22.

Terreno Realty Company Profile

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.